DELTA LOUISE: what changed
DELTA LOUISE
Largest movements
- Receivables within one year -€37,689
down €37,689 (-64.4%), from €58,538 to €20,849
of which Other amounts receivable: -€25,149
- Cash +€3,687
up €3,687 (+3.3%), from €111,580 to €115,267
mainly Receivables within one year (+€37,689) and Net result for the year (+€15,150)
- Reserves -€33,319
down €33,319 (-22.1%), from €150,745 to €117,426
of which Distributable reserves: -€32,619
- Tax, wage and social debts +€3,140
up €3,140 (+140%), from €2,250 to €5,390
- Short-term financial debts -€2,554
down €2,554 (-69.0%), from €3,702 to €1,148
- Gross operating margin -€31,168
down €31,168 (-56.7%), from €54,922 to €23,754
- Taxes -€9,885
down €9,885 (-58.6%), from €16,863 to €6,977
- Financial income -€1,548
down €1,548 (-60.1%), from €2,576 to €1,029
- Depreciation +€885
up €885 (+137%), from €646 to €1,531
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €177,881 | €145,172 | -€32,709 | -18.4% |
| Fixed assets | 21/28 | €7,763 | €8,899 | +€1,136 | +14.6% |
| Tangible fixed assets | 22/27 | €7,763 | €8,899 | +€1,136 | +14.6% |
| Furniture and vehicles | 24 | €5,838 | €7,358 | +€1,521 | +26.0% |
| Other tangible fixed assets | 26 | €1,926 | €1,541 | -€385 | -20.0% |
| Current assets | 29/58 | €170,118 | €136,273 | -€33,845 | -19.9% |
| Amounts receivable within one year | 40/41 | €58,538 | €20,849 | -€37,689 | -64.4% |
| Trade receivables | 40 | €19,800 | €7,260 | -€12,540 | -63.3% |
| Other amounts receivable | 41 | €38,738 | €13,589 | -€25,149 | -64.9% |
| Cash at bank and in hand | 54/58 | €111,580 | €115,267 | +€3,687 | +3.3% |
| Deferred charges and accrued income | 490/1 | - | €158 | +€158 | |
| Total equity and liabilities | 10/49 | €177,881 | €145,172 | -€32,709 | -18.4% |
| Equity | 10/15 | €156,945 | €123,626 | -€33,319 | -21.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €150,745 | €117,426 | -€33,319 | -22.1% |
| Non-distributable reserves | 130/1 | €700 | - | -€700 | |
| Reserves not available under the articles | 1311 | €700 | - | -€700 | |
| Distributable reserves | 133 | €150,045 | €117,426 | -€32,619 | -21.7% |
| Amounts payable | 17/49 | €20,937 | €21,547 | +€610 | +2.9% |
| Amounts payable within one year | 42/48 | €20,454 | €21,480 | +€1,026 | +5.0% |
| Financial debts | 43 | €3,702 | €1,148 | -€2,554 | -69.0% |
| Credit institutions | 430/8 | €3,702 | €1,148 | -€2,554 | -69.0% |
| Trade debts | 44 | €703 | €590 | -€113 | -16.1% |
| Suppliers | 440/4 | €703 | €590 | -€113 | -16.1% |
| Taxes, remuneration and social security | 45 | €2,250 | €5,390 | +€3,140 | +140% |
| Taxes | 450/3 | €2,250 | €5,390 | +€3,140 | +140% |
| Other amounts payable | 47/48 | €13,799 | €14,352 | +€552 | +4.0% |
| Accrued charges and deferred income | 492/3 | €483 | €67 | -€416 | -86.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €646 | €1,531 | +€885 | +137% |
| Other operating charges | 640/8 | €516 | €997 | +€480 | +93.1% |
| Gross operating margin | 9900 | €54,922 | €23,754 | -€31,168 | -56.7% |
| Operating profit (loss) | 9901 | €53,759 | €21,226 | -€32,533 | -60.5% |
| Financial income | 75/76B | €2,576 | €1,029 | -€1,548 | -60.1% |
| Recurring financial income | 75 | €2,576 | €1,029 | -€1,548 | -60.1% |
| Financial charges | 65/66B | €103 | €127 | +€25 | +24.1% |
| Recurring financial charges | 65 | €103 | €127 | +€25 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €56,233 | €22,127 | -€34,106 | -60.7% |
| Income taxes | 67/77 | €16,863 | €6,977 | -€9,885 | -58.6% |
| Profit (loss) for the period | 9904 | €39,371 | €15,150 | -€24,221 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,371 | €15,150 | -€24,221 | -61.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.